FineMark National Bank & Trust grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 452,360 shares of the network equipment provider’s stock after purchasing an additional 9,763 shares during the quarter. Cisco Systems makes up approximately 1.0% of FineMark National Bank & Trust’s investment portfolio, making the stock its 12th largest position. FineMark National Bank & Trust’s holdings in Cisco Systems were worth $15,213,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in CSCO. Vantage Financial Partners Ltd. Inc. purchased a new stake in Cisco Systems in the second quarter valued at approximately $231,000. Barnett & Company Inc. boosted its position in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its position in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Cisco Systems in the second quarter valued at approximately $104,000. Finally, Manchester Capital Management LLC boosted its position in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 75.69% of the company’s stock.
Several research firms have commented on CSCO. Piper Jaffray Companies restated an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a research report on Wednesday, January 10th. Berenberg Bank reaffirmed a “hold” rating and set a $33.00 target price on shares of Cisco Systems in a research note on Tuesday, October 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research note on Monday, October 23rd. Citigroup reissued a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, November 16th. They noted that the move was a valuation call. Finally, Nomura increased their price objective on Cisco Systems from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, November 16th. Twelve investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $39.26.
In related news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock valued at $12,892,271. Insiders own 0.05% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) traded up $0.16 on Thursday, reaching $41.70. The company’s stock had a trading volume of 26,148,007 shares, compared to its average volume of 21,100,000. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The stock has a market capitalization of $206,150.00, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 3.81 and a beta of 1.19. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $42.98.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. Cisco Systems’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. equities analysts anticipate that Cisco Systems, Inc. will post 2.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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